2016-15897. Proposed Collection; Comment Request for Form T (Timber).  

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    AGENCY:

    Internal Revenue Service (IRS), Treasury.

    ACTION:

    Notice and request for comments.

    SUMMARY:

    The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Start Printed Page 44093Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning Form T (Timber), Forest Activities Schedule

    DATES:

    Written comments should be received on or before September 6, 2016 to be assured of consideration.

    ADDRESSES:

    Direct all written comments to Tuawana Pinkston, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224.

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    FOR FURTHER INFORMATION CONTACT:

    Requests for additional information or copies of the collection tools should be directed to LaNita Van Dyke, Internal Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, DC 20224, or through the internet at Lanita.VanDyke@irs.gov.

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    SUPPLEMENTARY INFORMATION:

    Currently, the IRS is seeking comments concerning the following information collection tools, reporting, and record-keeping requirements:

    Title: Forest Activities Schedule.

    OMB Number: 1545-0007.

    Form Number: Form T (Timber).

    Abstract: Form T (Timber) is filed by individuals and corporations to report income and deductions from the operation of a timber business. The IRS uses Form T (Timber) to determine if the correct amount of income and deductions are reported.

    Current Actions: There are no changes to the previously approved burden of this existing collection.

    Type of Review: Extension of a currently approved collection.

    Affected Public: Individuals or households, Businesses or other for-profit organizations.

    Estimated Number of Respondents: 37,000.

    Estimated Time per Respondent: 36 hrs., 11 min.

    Estimated Total Annual Burden Hours: 446,208.

    The following paragraph applies to all of the collections of information covered by this notice.

    An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and tax return information are confidential, as required by 26 U.S.C. 6103.

    Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency's estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.

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    Approved: June 28, 2016.

    Tuawana Pinkston,

    IRS Reports Clearance Officer.

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    [FR Doc. 2016-15897 Filed 7-5-16; 8:45 am]

    BILLING CODE 4830-01-P

Document Information

Published:
07/06/2016
Department:
Internal Revenue Service
Entry Type:
Notice
Action:
Notice and request for comments.
Document Number:
2016-15897
Dates:
Written comments should be received on or before September 6, 2016 to be assured of consideration.
Pages:
44092-44093 (2 pages)
PDF File:
2016-15897.pdf